Last week, cryptocurrency The market was prepared for new developments with the event where Bitcoin’s supply was halved. Due to high demand, it is thought that this movement could contribute to a sustained increase in its price in the May 2024 indices. Global institutional investors entering the market through Spot BTC ETFs could help BTC and altcoin prices reach new highs.
As Bitcoin rises up the leaderboard, other leading cryptocurrencies may also rally and move in parallel with price increases. In this article, we will discuss the top 3 coins in May 2024.
VeChain
VeChain (VET) was among the best-performing assets in the cryptocurrency market in Q1 2024. VET is currently trading at $0.038 and has been consolidating for a while. Between January and March, it increased by approximately 70% with the excitement created by Bitcoin’s halving.
However, VET fell this month in April and has barely moved up the charts in the last 30 days. Now that the BTC halving event is over, a surge in BTC’s price could catapult VET in May 2024. Since VeChain mostly moves in tandem with Bitcoin, VET has more chances to rise in May 2024.
Cardano
leading altcoin Cardano‘s native token ADA is trading at $0.45. ADA is seeing huge trading volume reaching $282 million this week. ADA price has been consolidating for a while and a rise from these levels would be cryptocurrency It can move its unit to $0.50 in May 2024.
dogecoin
Billionaire Elon Musk recently dogecoinIt will allegedly integrate as an official form of payment for customers to purchase Tesla cars. If cryptocurrency markets take off, Dogecoin will be the first currency to reach double digits and return profits to investors. Dogecoin is mostly the sleeping giant of the cryptocurrency market and rallies when the market turns green.
